| IDEA Cellular Limited Related news |
Vodafone Idea Q3 loss widens to Rs 5,004 crore, loses 35 million customers
Posted on 7th February 2019 |
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In its second quarterly results after the merger, Vodafone Idea (VIL) posted a net loss of Rs 5,004 crore, which was higher than Street estimates. The December quarter loss was higher than the previous quarter, when the firm had posted a loss of Rs 4,974 crore, primarily on account of network-expansion costs. The telco lost 35 million customers during the quarter. The average revenue per user (Arpu), however, improved. |
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Vodafone Idea to raise Rs 25,000 crore to reduce debt
Posted on 24th January 2019 |
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The board of the country’s largest telecom operator by subscribers but financially the weakest, Vodafone Idea on Wednesday approved the proposal to raise up to `25,000 crore, a major portion of which will come from the promoters, Vodafone Plc and the Aditya Birla Group. According to the company’s filing with stock exchanges, the funds will be raised through a rights issue and the infusion is expected to happen by March.
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Vodafone Idea moves Supreme Court for Rs 4,761-crore tax refund
Posted on 19th January 2019 |
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The Supreme Court on Friday sought response from the income tax department as to why it should not refund around Rs 4,761 crore to Vodafone Idea in respect of returns for assessment years (AYs) 2014-15 to 2017-18. Stating that such inaction in granting refunds has caused grave financial hardships, Vodafone said that its financial condition is precarious as it has accumulated losses of rS 5,557 crore and debts amounting to Rs 53,000 crore as on March 31, 2017. |
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Call drop! Vodafone Idea and Bharti Airtel lose over 24 million users in three months
Posted on 4th January 2019 |
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The top two incumbent operators — Vodafone Idea and Bharti Airtel — have lost over 24 million subscribers in just three months as the telcos try to weed out low revenue paying customers from their network. The country’s largest mobile operator by subscriber, Vodafone Idea lost around 20.57 million subscribers in September to November period whereas Bharti Airtel was leaner by 4.22 million users during September and October. |
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Reliance Jio begins to devour Vodafone Idea, Airtel user base
Posted on 3rd January 2019 |
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New Delhi: Reliance Jio Infocomm Ltd has wrested market share from Bharti Airtel Ltd and Vodafone Idea Ltd, as the relatively new entrant in the telecom sector continued to add a large number of users even as its bigger rivals lost customers. Reliance Jio added 10.5 million users in October while Vodafone Idea and Airtel lost 7.3 million and 1.8 million users, respectively, according to data released by the Telecom Regulatory Authority of India (Trai) on Wednesday. |
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With 65% fall, Voda Idea among worst performing Asia Pacific stocks in 2018
Posted on 2nd January 2019 |
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Stiff competition in the telecom sector has led to another rough year for the sector’s stocks. The shares of Vodafone Idea have been hit the hardest with the stock moving into the unenviable league of the worst-performing one in the MSCI Asia Pacific Index in 2018. Last year, the shares of Vodafone Idea were down 65 per cent. Data compiled by Bloomberg shows the stock of the telecom major was among the top 5 losers in the regional index in local currency terms. |
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Telecom shares in focus; Bharti Airtel, Vodafone Idea gain up to 10%
Posted on 14th December 2018 |
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Shares of telecom services provider such as Bharti Airtel and Vodafone Idea have rallied by up to 6% on BSE in an otherwise subdued market after Telecom Disputes Settlement and Appellate Tribunal (TDSAT) quashes Trai's predatory pricing rule. Bharti Airtel has rallied 10% to Rs 333, while Vodafone Idea climbed 8% to Rs 37.60 on BSE in the intra-day trade. |
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Vodafone Idea: Spectrum charges to stress balance sheet
Posted on 3rd December 2018 |
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Given that Vodafone Idea needs to fork out about half the telecom industry’s annual deferred spectrum payments between now and 2031, it’s not surprising that chairman KM Birla is calling on the government for some relief. Nearly half or Rs 10,579 crore of the Rs 21,218 crore to be paid out in 2018-19 is Vodafone Idea’s share. In comparison, Bharti Airtel’s annual outgo is smaller at Rs 5,573 crore. |
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Why Vodafone Idea’s sensible plea didn’t make any sense to investors
Posted on 26th November 2018 |
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You have to give full marks to Vodafone Idea Ltd for trying. When the newly merged company’s management met telecom analysts for the first time last week, it made a fairly logical case for an improvement in India’s telecom industry. They also laboured to point out that the company itself would soon be on a strong footing. The timeline for extracting full synergies from the merger had been advanced by two years, which, coupled with planned asset sales and equity issuances, would bring down leverage substantially, it said. |
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Vodafone Idea to pare 16,000 distributors and 2,000 retail stores
Posted on 24th November 2018 |
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Vodafone Idea is in the process to reduce the number of its distributors by 16,000, and branded stores by 2,000, by the end of this financial year, a company document said. The company plans to reduce the number of its distributors from around 43,000 to 27,000 by December. It has around 6,000 branded retail stores, which it plans to cut to 4,000 by March 2019, it said. |
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